Market Ends Lower Amid Regional Bloodbath

The FBM KLCI ended slightly lower to just above the 1,440 threshold despite a regional bloodbath.

“We expect global currency turmoil to take center stage over the short term on the heightening US yield hence the higher market volatility.

“Therefore, we believe the index may be under some pressure today and hover within the 1,435-1,445 range.

“Meanwhile, crude oil prices continue to escalate with the Brent crude now trending at above US$93/barrel due to lower inventory and conflict in the middle east.

Market ends lower

FBM KLCI closed lower in tandem with the regional sell- off. The benchmark index was down 0.27% or 3.88 pts to close at 1,442.66. Majority of the sectors were down with industrial products & services (-0.9%), construction (- 0.8%), and technology (-0.6%) leading the losses; while gainers were seen in transportation (+0.8%), and plantation (+0.1%).

Market breadth was negative with 509 losers against 337 gainers. Total volume stood at 3.07bn shares valued at RM2.02bn.